GTee Posted August 2 Share Posted August 2 Would getting rid of nuclear weapons solve the financial 'black hole' 0 Quote Link to comment Share on other sites More sharing options...
GTee Posted August 3 Share Posted August 3 Funny how we could all of a sudden apparently be oil and gas energy secure for 65 million people, but 10 years ago this was not possible for 5 million people. 0 Quote Link to comment Share on other sites More sharing options...
carpetmonster Posted August 3 Share Posted August 3 2 hours ago, tamthebam said: Have you been Chancellor of the Exchequer at any point in the last 25 years? It’d explain why he’s buggered off to the Canaries if he’s Kwarteng. 0 Quote Link to comment Share on other sites More sharing options...
Stevieda Posted August 3 Share Posted August 3 6 hours ago, parsforlife said: I think that was inevitable, not being a Tory doesn't get you much once you've become PM. On NI, it's a tax, just like any other, your NI contributions 20 years ago were used to pay for the pensioners (along with other national spending) then, just as my NI payments go towards pensions now, and I hope that when I become a pensioner that they'll be others paying into the system to pay me. Also NI is an utterly terrible tax and needs fixed/completely replaced, it's set up incredibly poorly in the way it targets lower earners and particularly poorly seasonal earners, it's just silly It’s truly about time that people realised that when they are paying into their NI they are not paying into a pension. Paying into a pension creates and asset pool for future use. NI creates no such thing. Purely another form of tax. Might as well opt out and put your contributions into a real pension pot instead. 1 Quote Link to comment Share on other sites More sharing options...
GTee Posted August 3 Share Posted August 3 24 minutes ago, Stevieda said: It’s truly about time that people realised that when they are paying into their NI they are not paying into a pension. Paying into a pension creates and asset pool for future use. NI creates no such thing. Purely another form of tax. Might as well opt out and put your contributions into a real pension pot instead. Ye, I believe the state pension is paid with taxes, but not solely National Insurance contributions. Could be wrong though. Keith Starmer has zero personality or statesman attributes. Vacuous IMO. Wouldn't mind seeing Scottish Labour run Holyrood for a bit. See how that goes.. Lapdogs to their Imperial masters in London no doubt. 0 Quote Link to comment Share on other sites More sharing options...
Stevieda Posted August 3 Share Posted August 3 8 minutes ago, GTee said: Ye, I believe the state pension is paid with taxes, but not solely National Insurance contributions. Could be wrong though. Keith Starmer has zero personality or statesman attributes. Vacuous IMO. Wouldn't mind seeing Scottish Labour run Holyrood for a bit. See how that goes.. Lapdogs to their Imperial masters in London no doubt. The state pension received by current pensioners is of course paid by the taxes of the current workforce. Therefore it is an illusion to say that the NI contributions (or any other tax you pay) you make today are paying into your pension. Paying into a pension means there is a pool of assets from which you will receive future income. The NI and tax you pay is gone as soon as you pay it. 2 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted August 3 Share Posted August 3 3 hours ago, GTee said: Would getting rid of nuclear weapons solve the financial 'black hole' It would go a fair way towards it. 0 Quote Link to comment Share on other sites More sharing options...
coprolite Posted August 3 Share Posted August 3 5 hours ago, Stevieda said: The state pension received by current pensioners is of course paid by the taxes of the current workforce. Therefore it is an illusion to say that the NI contributions (or any other tax you pay) you make today are paying into your pension. Paying into a pension means there is a pool of assets from which you will receive future income. The NI and tax you pay is gone as soon as you pay it. It doesn't go into a hypothecated fund, but it does create an entitlement to a future pension a you pay it. The pension doesn't depend directly on the contributions, so it's more akin to a defined benefit scheme. It's not completely wrong to think of paying NI as paying into a pension but it's better described as paying for a pension. 0 Quote Link to comment Share on other sites More sharing options...
Granny Danger Posted August 3 Share Posted August 3 7 hours ago, Stevieda said: It’s truly about time that people realised that when they are paying into their NI they are not paying into a pension. Paying into a pension creates and asset pool for future use. NI creates no such thing. Purely another form of tax. Might as well opt out and put your contributions into a real pension pot instead. Except that would exacerbate inequality. The State Pension offers a set amount so long as you’ve contributed for 35 years but is not determined by the level of contribution hence being more favourable to those earning less. 0 Quote Link to comment Share on other sites More sharing options...
Bonksy+HisChristianParade Posted August 3 Share Posted August 3 37 minutes ago, coprolite said: It doesn't go into a hypothecated fund, but it does create an entitlement to a future pension a you pay it. The pension doesn't depend directly on the contributions, so it's more akin to a defined benefit scheme. It's not completely wrong to think of paying NI as paying into a pension but it's better described as paying for a pension. Wrong. It’s better described as a tax that pays for various benefits for people today, including pensions and a large chunk towards the NHS. You actually don’t even need to pay any NIC to qualify for the state pension. For example, carers, people claiming benefits like JSA, child benefit etc. aren’t ’paying into their pension’, yet can still gain a qualifying year. You would’ve gained qualifying years between the ages of 16-18 when you were in school (and not in employment) as well. This has since been removed. This mechanism for qualification for the benefit is clearly different to ‘paying into a pension’. 1 Quote Link to comment Share on other sites More sharing options...
coprolite Posted August 3 Share Posted August 3 40 minutes ago, Bonksy+HisChristianParade said: Wrong. It’s better described as a tax that pays for various benefits for people today, including pensions and a large chunk towards the NHS. You actually don’t even need to pay any NIC to qualify for the state pension. For example, carers, people claiming benefits like JSA, child benefit etc. aren’t ’paying into their pension’, yet can still gain a qualifying year. You would’ve gained qualifying years between the ages of 16-18 when you were in school (and not in employment) as well. This has since been removed. This mechanism for qualification for the benefit is clearly different to ‘paying into a pension’. If people who pay NIC and qualify for a state pension as a result want to think of themselves as "paying in to a pension" then i'm fine with that. No amount of "ackshuallys" from pedantic know alls is going to change that. 2 Quote Link to comment Share on other sites More sharing options...
Mr Waldo Posted August 3 Share Posted August 3 8 hours ago, GTee said: Would getting rid of nuclear weapons solve the financial 'black hole' Just the warheads, the missiles, the submarines? I see this quite a lot but 'scrapping Trindent' would save between a little and zero. -1 Quote Link to comment Share on other sites More sharing options...
Bonksy+HisChristianParade Posted August 3 Share Posted August 3 7 minutes ago, coprolite said: If people who pay NIC and qualify for a state pension as a result want to think of themselves as "paying in to a pension" then i'm fine with that. No amount of "ackshuallys" from pedantic know alls is going to change that. Me explaining to you how things actually work makes me a pedantic know all? It would be more dignified if you just accepted you were wrong. Wouldn’t expect anything else from a Libra though. 1 Quote Link to comment Share on other sites More sharing options...
aDONisSheep Posted August 3 Share Posted August 3 As part of my survey of my brain, pre election, the most common terms used to describe Sir Kier were. Dishonest Duplicitous Kvnt Spineless Zionist stooge And weirdly; DuplicitousDishonestSpinelessKvnt! Did a similar survey today and only change was the addition of; Child starving, snivelling, zionist, genocide appeasing kvnt! So he's still more popular than David Lammy and Lisa Nandy. Yours aDONis 0 Quote Link to comment Share on other sites More sharing options...
Suspect Device Posted August 4 Share Posted August 4 Seems that Sir Keir picked a good time to plan a holiday. 0 Quote Link to comment Share on other sites More sharing options...
doulikefish Posted August 4 Share Posted August 4 41 minutes ago, Suspect Device said: Seems that Sir Keir picked a good time to plan a holiday. Hull? 0 Quote Link to comment Share on other sites More sharing options...
SandyCromarty Posted August 4 Share Posted August 4 On 03/08/2024 at 00:59, GTee said: Would getting rid of nuclear weapons solve the financial 'black hole' The new Trident missile system is now heading towards £40 Billion and it is basically a leased system from the USA, as the UK military cannot service the missile guidance system,that has to go back to a USA naval base for servicing. A Puppet State at the beck and call of the USA. 0 Quote Link to comment Share on other sites More sharing options...
GTG_03 Posted August 4 Share Posted August 4 5 hours ago, SandyCromarty said: The new Trident missile system is now heading towards £40 Billion and it is basically a leased system from the USA, as the UK military cannot service the missile guidance system,that has to go back to a USA naval base for servicing. A Puppet State at the beck and call of the USA. Special relationship is the preferred term I believe. Some Brits actually believe it to be on an equal footing. 0 Quote Link to comment Share on other sites More sharing options...
O'Kelly Isley III Posted August 4 Share Posted August 4 4 minutes ago, GTG_03 said: Special relationship is the preferred term I believe. Some Brits actually believe it to be on an equal footing. Indeed. A special relationship of the kind a dog has with a lamp-post. 1 Quote Link to comment Share on other sites More sharing options...
carpetmonster Posted August 4 Share Posted August 4 9 minutes ago, GTG_03 said: Special relationship is the preferred term I believe. Some Brits actually believe it to be on an equal footing. If it wasn’t for royal weddings and repeats of Are You Being Served? the average American would have no clue of Britain’s existence. 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.